State bank of india

Purpose

SBI Student Loan scheme is offered to Indian nations for pursuing higher studies in India or at a foreign institution

Rate of Interest

1.Up to Rs.4 lakhs-3.50% above base rate

2. Above Rs.4 lakhs and up to Rs.7.5 lakhs-3.75% above base rate

3. Above Rs.7.50 lakhs-1.75% above base rate

4. The base rate is fixed at 9.85%. Do make an enquiry with the bank about the prevailing base rates. A concession of 0.50% is provided for girl students and a 1% concession is offered for full tenure of loan, if the interest is serviced promptly during moratorium and course period.

Eligibility for Educational Loan

The applicant should be an Indian national and should have secured an admission in a recognized educational institution. For SBI Scholar scheme, the student should have secured an admission in one of the 93 premier Indian institutions. Similarly, for Vocational Education loan, the student should have obtained an admission in a government certified training institute.

About the Bank

State Bank of India is an Indian multinational financial services company that was founded in 1921. State Bank of India has an operational presence of over 14000 branches in India serving millions of happy customers. The bank has a much diversified portfolio that includes services in personal banking/ business banking and international banking services. SBI Education Loan is of three categories ? for studies in India and abroad/ for studies in premier Indian institutions and loan for pursuing vocational education and training.

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